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Cape Town - Pioneer Foods said on Monday that it welcomed the Competition Commission Tribunal’s decision to approve its proposed merger with Future Life.
The Tribunal has approved the merger, subject to two conditions that will have no negative impact themselves on the commercial prospects of the Future Life business, according to Pioneer Foods.
“We appreciate the thorough process followed by the Competition Commission and the Competition Tribunal and the way in which all parties engaged on this issue.
We are delighted with the decision. This now provides the opportunity to optimise the Future Life Brand and Pioneer Foods manufacturing and route-to-market capabilities, and an opportunity to shape a winning brand portfolio in the best interests of consumers, by fast tracking product innovations and developing new product categories,” said Pioneer Foods CEO Phil Roux.
“I have full confidence in their continued success as an established and trusted brand with its own unique identity, niche positioning and future prospects in a growing category.
They have already achieved impressive market share on the strength of their intrinsic quality. We believe the brand’s popularity will grow further as the public continues to shift focus to healthy lifestyle choices.”
Roux added that innovation is core to Pioneer's business and Future Life’s approach to innovation is a perfect match for both companies.
